|
GDP fell to -32.9 % in the second-quarter
GDP, U.S. Economy
The U.S. economy contracted violently again in the second-quarter, as consumer spending, investments and exports play major role in the decline.
In the second-quarter durable goods orders dropped by -32.9 % to $19,487 billions, a decrease by $2,053 billions from $21,540 in the first-quarter on the seasonally adjusted basis. One of the big stories of the second-quarter was weaker consumer spending. There was also a decrease in foreign trade, and businesses slowed investments.
Economic conditions worsen in the second-quarter.
The growth revision does little to change the broad picture of an economy struggling to get out of first gear, marked by moderate consumer spending but checked by a sickly housing market and a cautious business sector. The report also included labor-compensation data that were much weaker -6.01 % than in the previous quarter.
U.S. GDP rose by 0.2 % over the past 12 months, . |
Government consumption expenditure and gross investment surged by 2.70 %, a 17.40 % increase in federal outlays was offset by a -5.60 % decline in local and state spending. Many states have slashed spending to close multi-billion-dollar budget gaps. Government consumption of $3,842 billions at annual rate, accounts for 19.72 % of total U.S. Economy.
The second estimate of GDP incorporates more data from the private sector and provides a more accurate measure of growth than the initial report. The revision is also the first to include data on business earnings.
In the second-quarter consumer spending dropped by -34.6 %
The decline in consumer spending is a bad news, with $13,047 billions, seasonally adjusted on annual rate, consumer spending accounts for 60.57 % the U.S, economy on the seasonally adjusted basis.
Spending on consumer goods fell by -15.9 %, with decline in durable goods by -1.4 %.
The biggest drag on overall demand for goods, was weak consumption of nondurable goods with decline of -15.9 % , as the gasoline and other energy goods mark the weakest spot with the decrease of -39.17 %.
Weakness in the service sector, was one of the major reasons, for the decline in the GDP, service sector fell -11.3 %, as spending on recreation mark the weakest spot with the decrease of -50.27 %. U.S. Service sector accounts for 59.54% of total speding and 40.31% of total Gross national product.
Excluding imports, final sales of goods and services purchased in the U.S. fell -29.3 % through the April-through-June period.
• More on U.S. Real Gross Domestic Product
|
|
Contributions
to Percent Change in Real GDP |
|
-24.76% |
-8.66% |
0.82% |
-6.47% |
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
Investments dropped by -49.00 % to $3,134 billions on the seasonally adjusted basis.
The big story for the second-quarter was in the business sector, where firms halted new investments and shed workers and inventories at a dizzying pace to bring down production and stockpiles to better match lower demand from U.S. and foreign markets. Businesses cut investments by -27.00 %, outlays for software and equipment declined -37.70 % and cut of a percentage point of Gross domestic product.
|
|
|
|
Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
II Quarter
2020
rev. |
I Quarter
2020
adv. |
IV Quarter
2019
final |
III Quarter
2019
rev. |
II Quarter
2019
adv. |
I Quarter
2019
final |
| Gross domestic product (GDP) |
|
-32.9 % |
-5 % |
2.1 % |
2.1 % |
2 % |
3.1 % |
|
Personal consumption expenditures |
|
-34.6 % |
-6.8 % |
1.7 % |
3.2 % |
4.6 % |
0.9 % |
| Goods |
|
-15.9 % |
8 % |
-0.3 % |
3.9 % |
6.5 % |
2.3 % |
| Durable goods |
|
-1.4 % |
-13.8 % |
2.6 % |
8.1 % |
13 % |
-2.4 % |
| Nondurable goods |
|
-43.5 % |
-9.8 % |
2.2 % |
2.2 % |
2.8 % |
1 % |
| Services
|
|
-11.3 % |
0.2 % |
0.7 % |
5.3 % |
8.6 % |
0.7 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
-49 % |
-10.2 % |
-6 % |
-1 % |
-6.3 % |
6 % |
| Fixed investment |
|
-29.9 % |
-1.3 % |
-0.5 % |
-0.8 % |
-1.4 % |
3 % |
| Nonresidential |
|
-27 % |
-6.4 % |
-2.3 % |
-2.3 % |
-1 % |
4.4 % |
| Structures |
|
-34.9 % |
2.6 % |
-8.1 % |
-9.9 % |
-11.1 % |
4.3 % |
| Equipment &
software |
|
-37.7 % |
-16.6 % |
-4.4 % |
-3.8 % |
0.8 % |
-1 % |
| Residential |
|
-38.7 % |
18.2 % |
6.2 % |
4.6 % |
-3 % |
-2 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
-64.1 % |
-9 % |
2 % |
1 % |
-5.7 % |
5.4 % |
| Goods |
|
-67.6 % |
-1.9 % |
-0.5 % |
2.1 % |
-5.9 % |
6 % |
| Services |
|
-56.7 % |
-21.1 % |
7.1 % |
-1.3 % |
-5.1 % |
4.4 % |
| Imports
|
|
-53.4 % |
-15.7 % |
-8.6 % |
1.8 % |
- % |
-1.9 % |
| Goods |
|
-48.8 % |
-12.2 % |
-11.5 % |
1.1 % |
0.1 % |
-3.3 % |
| Services |
|
-69.7 % |
-28.6 % |
4.6 % |
4.8 % |
-0.7 % |
4.4 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2.7 % |
1.1 % |
2.6 % |
1.7 % |
4.8 % |
2.8 % |
| Federal |
|
17.4 % |
2 % |
3.8 % |
3.3 % |
8.3 % |
- % |
| National defense |
|
4.1 % |
1.1 % |
5.3 % |
2.2 % |
3.3 % |
4 % |
| Nondefense |
|
39.7 % |
3.3 % |
1.7 % |
5 % |
16.1 % |
-5.8 % |
| State & local |
|
-5.6 % |
0.5 % |
1.9 % |
0.7 % |
2.7 % |
4.6 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
-29.3 % |
-3.5 % |
3.1 % |
2.1 % |
3 % |
2.6 % |
| Gross domestic purchases |
|
-31.8 % |
-6.1 % |
0.5 % |
2.2 % |
2.6 % |
2.1 % |
| Final sales to domestic
purchasers |
|
-28.2 % |
-4.6 % |
1.5 % |
2.2 % |
3.6 % |
1.6 % |
| Gross national product
(GNP) |
|
- % |
-5.6 % |
- % |
2.2 % |
2.8 % |
3.2 % |
| Disposable personal income |
|
44.9 % |
0.9 % |
1.7 % |
2.9 % |
2.4 % |
2 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
-34.3 % |
-3.4 % |
3.5 % |
3.8 % |
4.5 % |
1.7 % |
| Final sales of domestic product |
|
-30.5 % |
-2.2 % |
4.4 % |
4 % |
5.1 % |
2.7 % |
| Gross domestic purchases |
|
-29.3 % |
-3.1 % |
2.9 % |
3.7 % |
5.8 % |
2.4 % |
| Final sales to domestic purchasers |
|
-34.6 % |
-4.5 % |
2.5 % |
3.8 % |
5.4 % |
3.8 % |
| GNP |
|
- % |
-4.1 % |
- % |
3.9 % |
4.8 % |
2.5 % |
| Disposable personal income |
|
42.1 % |
2.2 % |
3 % |
4.5 % |
- % |
- % |
| |
|
|
|
|
|
|
Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
I Quarter
2020
adv. |
IV Quarter
2019
final |
III Quarter
2019
rev. |
II Quarter
2019
adv. |
I Quarter
2019
final |
IV Quarter
2018
rev. |
| Gross domestic product (GDP) |
|
0.2 % |
2.3 % |
2.1 % |
2.3 % |
3.2 % |
3 % |
|
Personal consumption expenditures |
|
0.6 % |
2.6 % |
2.6 % |
2.6 % |
2.7 % |
2.6 % |
| Goods |
|
4.3 % |
3 % |
3.5 % |
3.5 % |
3.2 % |
2.7 % |
| Durable goods |
|
2.2 % |
5.9 % |
5.5 % |
4.4 % |
3.3 % |
3.4 % |
| Nondurable goods |
|
-0.7 % |
2 % |
1.8 % |
2.1 % |
2.4 % |
2.4 % |
| Services
|
|
3.6 % |
4 % |
4.2 % |
3.8 % |
3.3 % |
2.9 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
-6 % |
-1.9 % |
0.4 % |
3.9 % |
5.9 % |
6.8 % |
| Fixed investment |
|
-1.3 % |
0.1 % |
0.9 % |
1.3 % |
3.4 % |
4.6 % |
| Nonresidential |
|
-3.4 % |
-0.3 % |
1.4 % |
2.6 % |
5.3 % |
7 % |
| Structures |
|
-8.1 % |
-6.5 % |
-6.7 % |
-4.8 % |
2.6 % |
4.9 % |
| Equipment &
software |
|
-6.2 % |
-1.9 % |
1 % |
2.7 % |
3.4 % |
5.8 % |
| Residential |
|
6.4 % |
1.6 % |
-1.1 % |
-3.2 % |
-2.9 % |
-3.3 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
-2.9 % |
0.3 % |
0.2 % |
-1.7 % |
2.8 % |
2.3 % |
| Goods |
|
-1.4 % |
- % |
0.8 % |
-2.1 % |
2.8 % |
2.1 % |
| Services |
|
-5.8 % |
0.9 % |
-1 % |
-0.7 % |
2.8 % |
2.7 % |
| Imports
|
|
-5.8 % |
-2.2 % |
0.9 % |
2.6 % |
2.1 % |
3.4 % |
| Goods |
|
-5.6 % |
-3.4 % |
0.1 % |
2.1 % |
1.7 % |
3.2 % |
| Services |
|
-6.5 % |
3.3 % |
4.3 % |
4.7 % |
3.9 % |
4.2 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2.5 % |
3 % |
2.2 % |
2.3 % |
1.9 % |
1.5 % |
| Federal |
|
4.2 % |
4.4 % |
3.7 % |
3.6 % |
2 % |
2.7 % |
| National defense |
|
2.7 % |
4.6 % |
4.6 % |
4.8 % |
5.3 % |
5 % |
| Nondefense |
|
6.4 % |
4.1 % |
2.4 % |
1.9 % |
-2.5 % |
-0.5 % |
| State & local |
|
1.4 % |
2.2 % |
1.4 % |
1.6 % |
1.8 % |
0.8 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
1.1 % |
2.7 % |
2.2 % |
1.8 % |
2.7 % |
2.6 % |
| Gross domestic purchases |
|
-0.2 % |
1.9 % |
2.1 % |
2.8 % |
3.1 % |
3.1 % |
| Final sales to domestic
purchasers |
|
1.1 % |
2.7 % |
2.2 % |
1.8 % |
2.7 % |
2.6 % |
| Gross national product
(GNP) |
|
0.2 % |
- % |
2.2 % |
2.4 % |
3.1 % |
2.9 % |
| Disposable personal income |
|
1.7 % |
2.4 % |
2.9 % |
3.2 % |
2.4 % |
3.3 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
II Q. 2020
rev. |
I Q. 2020
adv. |
IV Q. 2019
final |
III Q. 2019
rev. |
II Q. 2019
adv. |
I Q. 2019
final |
| Gross domestic product
(GDP) |
|
19,486.5 |
21,539.7 |
21,726.8 |
21,542.5 |
21,340.3 |
21,060.1 |
|
Personal consumption expenditures |
|
13,046.7 |
14,583.3 |
14,789.3 |
14,678.2 |
14,511.2 |
14,238.6 |
| Goods |
|
4,364.3 |
4,550.1 |
4,559.8 |
4,556.7 |
4,507.0 |
4,375.9 |
| Durable
goods |
|
1,480.1 |
1,485.1 |
1,546.9 |
1,549.7 |
1,524.6 |
1,466.2 |
| Motor vehicles & parts |
|
486.5 |
493.6 |
541.1 |
537.1 |
533.1 |
492.2 |
| Furniture & household equipment |
|
351.8 |
354.6 |
356.3 |
359.0 |
352.9 |
335.7 |
| Other |
|
169.6 |
214.0 |
225.9 |
227.4 |
223.8 |
230.0 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,884.2 |
3,065.0 |
3,012.9 |
3,007.0 |
2,982.4 |
2,909.7 |
| Food off-premises consumption |
|
1,135.8 |
1,120.4 |
1,041.5 |
1,042.8 |
1,030.1 |
1,008.9 |
| Clothing
& shoes |
|
288.6 |
362.5 |
400.5 |
402.3 |
399.3 |
397.0 |
| Gasoline,
fuel, oil & other energy goods |
|
190.4 |
313.0 |
342.9 |
338.0 |
349.3 |
320.6 |
| Other |
|
1,269.4 |
1,269.1 |
1,228.0 |
1,223.9 |
1,203.6 |
1,183.3 |
| |
|
|
|
|
|
|
|
| Services |
|
8,682.4 |
10,033.2 |
10,229.4 |
10,121.5 |
10,004.2 |
9,862.7 |
| Housing |
|
8,111.5 |
9,506.9 |
9,770.1 |
9,670.9 |
9,558.5 |
9,415.2 |
| Food services |
|
613.2 |
948.4 |
1,035.8 |
1,030.0 |
1,016.1 |
964.6 |
| Electricity & gas |
|
2,781.6 |
2,730.4 |
2,708.9 |
2,688.1 |
2,655.9 |
2,630.5 |
| Financial services |
|
1,180.9 |
1,183.4 |
1,178.6 |
1,167.1 |
1,149.1 |
1,144.4 |
| Transportation |
|
294.7 |
451.7 |
487.4 |
483.2 |
477.0 |
463.7 |
| Medical
care |
|
1,991.7 |
2,422.1 |
2,510.4 |
2,476.0 |
2,459.0 |
2,443.4 |
| Recreation |
|
274.3 |
551.6 |
598.5 |
588.1 |
586.1 |
562.6 |
| Other |
|
975.1 |
1,219.3 |
1,250.6 |
1,238.3 |
1,215.4 |
1,206.1 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,134.2 |
3,629.0 |
3,699.2 |
3,744.6 |
3,749.5 |
3,823.3 |
| Fixed investment |
|
3,432.1 |
3,679.5 |
3,681.3 |
3,677.6 |
3,674.7 |
3,701.6 |
| Nonresidential |
|
2,658.0 |
2,822.6 |
2,863.7 |
2,877.2 |
2,890.0 |
2,906.8 |
| Structures |
|
585.0 |
615.3 |
608.1 |
619.4 |
633.2 |
657.4 |
| Equipment & software |
|
1,057.2 |
1,172.4 |
1,224.1 |
1,237.4 |
1,252.9 |
1,260.1 |
| Information processing equipment & software |
|
401.6 |
388.7 |
406.8 |
409.2 |
419.0 |
406.6 |
| Computers & peripheral equipment |
|
85.5 |
93.2 |
94.1 |
93.6 |
92.6 |
86.1 |
| Software |
|
423.8 |
431.2 |
421.5 |
421.1 |
411.4 |
411.1 |
| Other |
|
506.6 |
510.5 |
515.9 |
505.8 |
499.9 |
492.2 |
| Industrial equipment |
|
238.8 |
245.5 |
249.3 |
257.3 |
252.4 |
254.0 |
| Transportation equipment |
|
175.9 |
272.4 |
296.1 |
294.8 |
306.0 |
318.8 |
| Other equipment |
|
240.9 |
265.8 |
271.9 |
276.1 |
275.5 |
280.7 |
| Residential |
|
774.0 |
856.8 |
817.6 |
800.3 |
784.7 |
794.8 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
-297.9 |
-50.4 |
17.9 |
67.0 |
74.8 |
121.7 |
| Farm |
|
-1.4 |
0.1 |
-4.3 |
-7.6 |
-8.2 |
-4.6 |
| Nonfarm |
|
-296.5 |
-50.5 |
22.2 |
74.7 |
83.0 |
126.3 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-536.8 |
-524.7 |
-577.4 |
-653.0 |
-662.7 |
-606.7 |
| Exports |
|
1,798.5 |
2,420.9 |
2,497.5 |
2,495.1 |
2,504.0 |
2,552.0 |
| Goods |
|
1,134.7 |
1,599.1 |
1,629.4 |
1,638.0 |
1,646.1 |
1,664.1 |
| Services |
|
663.8 |
821.8 |
868.1 |
857.1 |
858.0 |
887.9 |
| |
|
|
|
|
|
|
|
| Imports |
|
2,335.3 |
2,945.6 |
3,074.9 |
3,148.2 |
3,166.7 |
3,158.6 |
| Goods |
|
1,928.9 |
2,379.0 |
2,458.8 |
2,540.9 |
2,566.1 |
2,548.8 |
| Services |
|
406.5 |
566.6 |
616.0 |
607.2 |
600.6 |
609.8 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,842.4 |
3,852.0 |
3,815.7 |
3,772.8 |
3,742.3 |
3,604.8 |
| Federal |
|
1,509.2 |
1,460.2 |
1,451.9 |
1,432.2 |
1,415.2 |
1,355.6 |
|
National defense |
|
877.6 |
866.0 |
864.1 |
849.3 |
841.6 |
809.5 |
|
Consumption expenditures |
|
688.3 |
695.4 |
687.9 |
680.2 |
676.9 |
646.6 |
|
Gross investment |
|
189.3 |
170.7 |
176.2 |
169.1 |
164.8 |
162.9 |
|
Nondefense |
|
631.7 |
593.8 |
587.7 |
583.0 |
573.5 |
546.1 |
|
Consumption expenditures |
|
479.3 |
451.0 |
445.1 |
440.9 |
433.6 |
410.5 |
|
Gross investment |
|
152.4 |
143.2 |
142.6 |
142.1 |
139.9 |
135.6 |
| State and local |
|
2,333.1 |
2,391.8 |
2,363.8 |
2,340.5 |
2,327.1 |
2,249.3 |
| Consumption
expenditures |
|
1,884.6 |
1,948.3 |
1,930.6 |
1,913.2 |
1,897.9 |
1,832.3 |
| Gross
investment |
|
448.6 |
443.5 |
433.2 |
427.4 |
429.2 |
417.0 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
19,784.4 |
21,590.1 |
21,708.9 |
21,475.5 |
21,265.5 |
20,938.4 |
| Gross domestic purchases |
|
20,023.3 |
22,064.4 |
22,304.2 |
22,195.6 |
22,002.9 |
21,666.7 |
| Final sales to domestic purchasers |
|
20,321.2 |
22,114.8 |
22,286.3 |
22,128.5 |
21,928.1 |
21,545.1 |
| Gross national product |
|
19,616.8 |
21,815.5 |
- |
21,851.5 |
21,641.3 |
21,319.4 |
| Net domestic product |
|
15,951.3 |
17,988.4 |
18,209.3 |
18,056.7 |
17,893.8 |
17,674.6 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2019
|
2018
|
2017
|
2016
|
2015
|
2014
|
| Gross domestic product (GDP) |
|
2.3 % |
2.9 % |
2.2 % |
1.5 % |
2.6 % |
2.4 % |
|
Personal consumption expenditures |
|
2.6 % |
2.6 % |
2.5 % |
2.7 % |
3.2 % |
2.5 % |
| Goods |
|
3.2 % |
2.8 % |
2.1 % |
2.8 % |
2.6 % |
1.8 % |
| Durable goods |
|
3.7 % |
3.7 % |
3.7 % |
3.7 % |
4 % |
6.9 % |
| Nondurable goods |
|
2.1 % |
2.1 % |
2 % |
2.3 % |
2.8 % |
2.1 % |
| Services
|
|
1.8 % |
5.9 % |
4.8 % |
-1.6 % |
5 % |
3.4 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
4.8 % |
5.5 % |
6.8 % |
5.5 % |
6.9 % |
5.8 % |
| Fixed investment |
|
2.1 % |
6.9 % |
5.3 % |
-0.6 % |
2.1 % |
5.3 % |
| Nonresidential |
|
-4.3 % |
5 % |
4.6 % |
-4.1 % |
-4.4 % |
6.3 % |
| Structures |
|
1.3 % |
7.4 % |
6.1 % |
-3.4 % |
3.5 % |
8.2 % |
| Equipment &
software |
|
7.6 % |
7.5 % |
4.6 % |
6.3 % |
4.8 % |
6.4 % |
| Residential |
|
-1.5 % |
-0.3 % |
3.3 % |
5.5 % |
11.7 % |
4.8 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
- % |
4 % |
3 % |
-0.3 % |
0.1 % |
3.2 % |
| Goods |
|
0.2 % |
4.7 % |
3.3 % |
0.3 % |
-0.6 % |
4 % |
| Services |
|
-0.4 % |
2.6 % |
2.5 % |
-1.5 % |
1.6 % |
1.4 % |
| Imports
|
|
1 % |
4.5 % |
4.6 % |
1.3 % |
4.6 % |
4 % |
| Goods |
|
0.2 % |
4.8 % |
4.6 % |
0.9 % |
4.9 % |
4.1 % |
| Services |
|
4.1 % |
3.3 % |
4.4 % |
3.1 % |
2.9 % |
3.6 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2.3 % |
1.5 % |
-0.1 % |
0.8 % |
1.8 % |
-0.2 % |
| Federal |
|
3.5 % |
2.6 % |
0.7 % |
- % |
- % |
-1.9 % |
| National defense |
|
4.9 % |
3.4 % |
0.7 % |
-0.7 % |
-2.1 % |
-2.1 % |
| Nondefense |
|
1.6 % |
1.5 % |
0.8 % |
1.2 % |
3.3 % |
-1.5 % |
| State & local |
|
1.6 % |
0.8 % |
-0.5 % |
1.2 % |
2.9 % |
1 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.2 % |
2.7 % |
2.2 % |
1.9 % |
2.4 % |
2.3 % |
| Gross domestic purchases |
|
2.4 % |
3 % |
2.5 % |
1.7 % |
3.2 % |
2.5 % |
| Final sales to domestic
purchasers |
|
2.3 % |
2.9 % |
2.5 % |
2.1 % |
3.1 % |
2.5 % |
| Gross national product
(GNP) |
|
- % |
2.9 % |
2.3 % |
1.4 % |
2.3 % |
2.3 % |
| Disposable personal income |
|
2.9 % |
2.9 % |
2.6 % |
1.4 % |
3.5 % |
2.5 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
4.1 % |
5.2 % |
4.2 % |
2.8 % |
3.7 % |
3.9 % |
| Final sales of domestic product |
|
4.1 % |
5 % |
4.2 % |
2.1 % |
3.6 % |
3.9 % |
| Gross domestic purchases |
|
4 % |
5.3 % |
4.2 % |
2.5 % |
3.7 % |
3.9 % |
| Final sales to domestic purchasers |
|
3.9 % |
5.1 % |
4.8 % |
3.5 % |
3.8 % |
3.9 % |
| GNP |
|
- % |
5.2 % |
4.3 % |
2.7 % |
3.4 % |
3.7 % |
| Disposable personal income |
|
4.3 % |
5 % |
4.4 % |
2.6 % |
3.8 % |
3.8 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2019
|
2018
|
2017
|
2016
|
2015
|
2014
|
| Gross domestic product
(GDP) |
|
21,433.2 |
20,580.2 |
19,390.6 |
18,624.5 |
18,036.6 |
17,418.9 |
|
Personal consumption expenditures |
|
14,544.6 |
13,998.7 |
13,395.5 |
12,820.7 |
12,283.7 |
11,930.3 |
| Goods |
|
4,512.2 |
4,364.8 |
4,295.3 |
4,121.4 |
4,012.1 |
3,968.7 |
| Durable
goods |
|
1,534.4 |
1,475.6 |
1,473.8 |
1,411.0 |
1,355.2 |
1,302.5 |
| Motor vehicles & parts |
|
521.8 |
521.5 |
498.2 |
480.8 |
464.8 |
447.8 |
| Furniture & household equipment |
|
357.4 |
341.2 |
338.7 |
325.2 |
305.1 |
287.5 |
| Other |
|
221.7 |
218.3 |
405.8 |
385.5 |
376.6 |
205.5 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,977.9 |
2,889.2 |
2,821.5 |
2,710.4 |
2,656.9 |
2,666.2 |
| Food off-premises consumption |
|
1,025.7 |
1,003.4 |
937.7 |
915.1 |
900.7 |
888.6 |
| Clothing
& shoes |
|
403.5 |
391.5 |
400.2 |
393.7 |
379.5 |
365.4 |
| Gasoline,
fuel, oil & other energy goods |
|
335.4 |
349.6 |
304.1 |
273.7 |
303.7 |
398.3 |
| Other |
|
1,213.3 |
1,144.6 |
1,172.8 |
1,126.1 |
1,076.9 |
1,013.9 |
| |
|
|
|
|
|
|
|
| Services |
|
10,032.4 |
9,633.9 |
9,100.2 |
8,699.3 |
8,271.6 |
7,961.7 |
| Housing |
|
9,593.2 |
9,190.9 |
8,723.3 |
8,340.4 |
7,943.7 |
7,633.7 |
| Food services |
|
999.5 |
973.3 |
878.2 |
849.2 |
808.8 |
755.5 |
| Electricity & gas |
|
2,681.2 |
2,567.2 |
3,197.2 |
3,022.1 |
2,963.2 |
2,166.0 |
| Financial services |
|
1,176.1 |
1,111.0 |
1,054.6 |
984.7 |
921.1 |
885.1 |
| Transportation |
|
483.4 |
462.2 |
406.6 |
392.5 |
368.4 |
344.9 |
| Medical
care |
|
2,450.8 |
2,352.6 |
2,259.9 |
2,163.7 |
2,069.0 |
1,997.2 |
| Recreation |
|
580.4 |
563.2 |
518.0 |
492.6 |
466.3 |
444.6 |
| Other |
|
1,221.8 |
1,161.3 |
1,172.8 |
1,126.1 |
1,076.9 |
1,040.4 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,751.2 |
3,628.3 |
3,212.8 |
3,057.2 |
3,056.6 |
2,851.6 |
| Fixed investment |
|
3,702.1 |
3,573.6 |
3,197.2 |
3,022.1 |
2,963.2 |
2,769.6 |
| Nonresidential |
|
2,895.0 |
2,786.9 |
2,449.6 |
2,316.3 |
2,311.3 |
2,210.5 |
| Structures |
|
650.2 |
633.2 |
560.2 |
516.2 |
507.3 |
506.9 |
| Equipment & software |
|
1,241.0 |
1,222.6 |
1,098.4 |
1,043.9 |
1,086.1 |
1,017.3 |
| Information processing equipment & software |
|
397.2 |
408.6 |
323.1 |
303.9 |
314.3 |
294.1 |
| Computers & peripheral equipment |
|
90.7 |
89.4 |
79.2 |
73.1 |
78.5 |
75.7 |
| Software |
|
411.2 |
380.0 |
243.9 |
230.8 |
235.8 |
304.9 |
| Other |
|
501.9 |
461.7 |
243.9 |
230.8 |
235.8 |
218.4 |
| Industrial equipment |
|
260.9 |
245.9 |
243.3 |
225.0 |
220.9 |
238.6 |
| Transportation equipment |
|
310.3 |
301.8 |
290.3 |
286.7 |
308.1 |
257.6 |
| Other equipment |
|
272.5 |
266.3 |
241.6 |
228.3 |
242.9 |
227.0 |
| Residential |
|
807.1 |
786.7 |
747.6 |
705.9 |
651.9 |
559.1 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
49.1 |
54.7 |
15.7 |
35.1 |
93.4 |
82.0 |
| Farm |
|
-14.5 |
-7.8 |
2.4 |
-0.6 |
-2.0 |
7.9 |
| Nonfarm |
|
63.6 |
62.5 |
13.2 |
35.7 |
95.4 |
74.1 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-610.5 |
-638.2 |
-571.6 |
-521.2 |
-522.0 |
-538.2 |
| Exports |
|
2,514.8 |
2,510.3 |
2,344.0 |
2,214.6 |
2,264.3 |
2,337.0 |
| Goods |
|
1,636.7 |
1,661.3 |
1,546.8 |
1,446.0 |
1,498.4 |
1,614.7 |
| Services |
|
878.0 |
848.9 |
797.1 |
768.5 |
765.9 |
722.2 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,125.2 |
3,148.5 |
2,915.6 |
2,735.8 |
2,786.3 |
2,875.2 |
| Goods |
|
2,525.6 |
2,570.6 |
2,381.8 |
2,224.2 |
2,291.1 |
2,385.5 |
| Services |
|
599.6 |
577.9 |
533.8 |
511.6 |
495.2 |
489.7 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,747.9 |
3,591.5 |
3,353.8 |
3,267.8 |
3,218.3 |
3,175.2 |
| Federal |
|
1,419.2 |
1,347.3 |
1,260.7 |
1,231.5 |
1,225.0 |
1,219.2 |
|
National defense |
|
852.4 |
793.6 |
744.4 |
728.9 |
732.0 |
761.5 |
|
Consumption expenditures |
|
676.5 |
637.4 |
588.7 |
585.2 |
590.6 |
618.9 |
|
Gross investment |
|
175.9 |
156.2 |
155.7 |
143.7 |
141.3 |
142.6 |
|
Nondefense |
|
576.8 |
540.9 |
516.2 |
502.6 |
493.0 |
457.6 |
|
Consumption expenditures |
|
420.8 |
419.5 |
389.1 |
379.4 |
373.1 |
346.3 |
|
Gross investment |
|
146.0 |
134.2 |
127.2 |
123.3 |
119.9 |
111.3 |
| State and local |
|
2,328.7 |
2,244.2 |
2,093.2 |
2,036.3 |
1,993.3 |
1,956.1 |
| Consumption
expenditures |
|
1,897.8 |
1,847.4 |
1,754.4 |
1,693.6 |
1,641.2 |
1,620.4 |
| Gross
investment |
|
431.0 |
396.8 |
338.8 |
342.7 |
352.2 |
335.7 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
21,384.1 |
20,525.5 |
19,374.9 |
18,589.4 |
17,943.3 |
17,336.9 |
| Gross domestic purchases |
|
22,043.7 |
21,218.4 |
19,962.2 |
19,145.7 |
18,558.6 |
17,957.2 |
| Final sales to domestic purchasers |
|
21,994.6 |
21,163.7 |
19,946.5 |
19,110.6 |
18,465.2 |
17,875.1 |
| Gross national product |
|
21,702.9 |
20,848.1 |
16,592.7 |
15,842.8 |
15,246.9 |
17,630.6 |
| Net domestic product |
|
18,012.3 |
17,288.8 |
19,390.6 |
18,624.5 |
18,036.6 |
14,682.7 |
Next U.S. GDP report is expected on February 25, 2121.
|
